MARATHON RUNNING SHOP Departmental Expense Allocation Spreadsheet For Year Ended December 31, 2019 Expense Totals Advertising Administrative Shoes Clothing Direct expense Indirect utilities expenses Total dept. exp. Service Dept. Expenses Advertising Dept. Administrative Dept. of Total expenses allocated 2$ $ $ 0 $
Q: 5. Present a condensed single-step Income statement that lists these expenses: cost of goods sold,…
A: 1. Calculation of cost of goods sold Opening stock+Transportation In+Purchase-Closing =COGS…
Q: I need typing clear urjent no chatgpt use i will give 5 upvotes full explanation pls
A: We will use the principle of static friction, to find the maximum possible P.Below is the free body…
Q: Labor Time Ticket. Ticket Number: TT 338 Employee: Joyce Caldwell Date Monday, 8/12 Tuesday, 8/13…
A: Journal Entry is the primary step in recording the transactions in the books of accounts.The…
Q: Continuing Payroll Problem, 4B: Chapter 4 This problem continues the process of preparing the…
A: Federal Income Tax Calculation of Federal Income taxes which comes under the wage bracket in which…
Q: alize Materials Purchases The following are the transactions of Dolphin Company for the month of…
A: The Journalizing of the transactions is process of recording the all business transaction in the…
Q: P3-3A Job Cost Journal Entries Holiday Manufacturing had the following inventories at December 31,…
A: Journal Entry :— It is an act of recording transaction in books of account when transaction…
Q: Garcia Company has two operating departments (Phone and Earbuds) and one service department (Office)…
A: Departmental contribution to overhead refers to the share of overhead costs that are assigned to…
Q: DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Oct. 23 Administrative Salaries 51 2,307.69…
A: Payroll taxes refer to those taxes paid by both employer and employee in order to fund the employee…
Q: All School Logos & More (ASLM) design and manufacture school uniform crests. After production, the…
A: Material used=Raw material beginning+Purchase-Raw material…
Q: Question 2: Total Sales $3,599,100 Cost of goods sold $1,619,156 Gross Margin $1,979,944 Other…
A: You must evaluate the gross margin and remove the total other expenditures for each department to…
Q: Question 3 6 p An employee has total gross wages of $7,000, federal withholding of 15% and state…
A: Payroll taxes generally includes the FICA Tax as well as withholding tax which will be levied on the…
Q: Department Payroll Factory Sales Office Total Wages $77000 23000 $22430. 17000 O $8430. O $14830. O…
A: Payroll taxes refer to those taxes paid by both employer and employee in order to fund the employee…
Q: 3. The general ledger accounts of the SM Company contained these credit balances for the period…
A: "Since you have posted a question with multiple subparts, we will solve the first three subparts for…
Q: PLS HELP ASAP $$$
A: Step 1:Computation of the Amount of Direct Materials Used in Production:-The amount of direct…
Q: Metro Media Company pays its employees monthly. Payments made by the company on October 31 follow.…
A: It is given that, use an earnings ceiling of $132,900 for social security taxes. That means the…
Q: Compute gross profit Request 5A job 306 is sold for $685000 cash in Apri
A: Lets understand the basics. Gross profit is a profit after deducting all the job cost from the job…
Q: How do you Calculate the cost of labor-to-sales ratio from the numbers below Profit & loss account…
A: Given, Purchasing costs $ 397,925,058Material costs $ 217,667,630 Variation of Raw Material$ (1,543…
Q: Employee Lennon, A. Starr, P. McNeil, S. Harrison, W. Smythe, M. Filing Status S S MFJ MFJ MFJ No.…
A: Answer:- The amount or proportion of anything expressed in terms of 100 can be determined using the…
Q: Journalizing Payroll Transactions On December 31, the payroll register of Hamstreet Associates…
A: Payroll is the compensation amount paid to its employees by a company for a set period and on a…
Q: Maram Ahmed Al. Items Cost Items Cost Raw materials, 1/1/2019 OMR 30,000 Insurance, factory OMR…
A: The current assets include the Assets that can be converted into cash with in one year.
Q: Service Department Charges In divisional income statements prepared for LeFevre Company, the Payroll…
A: Number of payroll checks = weekly payroll *52 Monthly payroll = payroll * 12
Q: Filing No. of Withholding Gross Wage Percentage Wage-Bracket ree Status Allowances or Salary Method…
A: solution:-To calculate the federal income tax withholding using the Percentage and Wage-Bracket…
Q: indicate whether the assets, liabilities, and equity will be increased, decreased, or no effect. 1 2…
A: Hi student Since there are multiple questions, we will answer only first question. Accounting…
Q: Prepare journal entries to record the preceding transactions.
A: Journal entry: It is a systematic record of a financial transaction of an organization recorded in…
Q: Muscat Corporation has the following cost records for January 2019. Indirect factory labor 14,300…
A: Cost of Goods Manufactured = Beginning WIP Inventory + Total Manufacturing Cost – Ending WIP…
Q: Department Payroll Factory Sales Total Wages $77000 23000 Federal Income Tax Withheld $8000 4000…
A: The payroll taxes are the taxes that employers deduct from the salary of employees and deposit the…
Q: At May 31, 2020, the accounts of Lopez Company show the following: 1.May 1 inventories-finished…
A: The cost of goods manufactured includes the cost of goods that are finished during the period. The…
Q: The process of assigning the cost of postretirement benefits to the years during which those…
A: The post-retirement benefits are the benefits provided to the employee during their retirement…
Q: mployee No. Employee Name Filing Status No. Of Withholding Allowances Gross Wage Salary Amount to be…
A: As in the question it is not mentioned that which method is to be used in order to compute the…
Q: Furchases $250,000 Cost of goods sold 250,000 Eeginning balance 30,000 Ending balance ?
A: Cost of goods sold = Beginning inventory + Purchases - Ending inventory Ending inventory = Beginning…
Q: Assume today is Feb 11th of Year 3. You have the following information: Year 1 $- $ 1,000 $ 7,000 $…
A: The term "maximum deduction" refers to the maximum amount that a person may exclude from their…
Q: During the closing process the credit to the Profit or Loss Summary account would be:
A: Closing process is made by the company so that the entries of the accounts which are required to be…
Q: Manufacturing Overhead Distribution Worksheet The following are selected operating data for 2 the…
A: Distribution overheads are all the expenses incurred from the time the product is finished in the…
Q: Dept. M $79,000 Dept. T $ 40,000 Dept. N Dept. O Total $ 41,000 Dept. P $60,000 $ 292,000 Sales…
A: Departmental income statement are the income statement prepared by management that shows profit or…
Q: Coleman Company reports the following costs for the year. Direct Materials Used $ 110,000 Direct…
A: A period cost is the indirect cost which is not related to production. It is incurred over period of…
Q: Prince Albert Roman Catholic Separate School Division No. 6Statement of Operations and Accumulated…
A: The objective of the question is to analyze the financial health of Prince Albert Roman Catholic…
Q: JOURNAL Page 43 DATE DESCRIPTION POST. REF. DEBIT CREDIT 20-- Nov. 6…
A: In the context of the given question, we should answer the questions asked from the journal entries.…
Q: Types of Debts Amounts Administrative expenses Government claims to unpaid taxes Salary during last…
A: Preferential creditor: Preferential creditor are those creditors who received preference over…
Q: The sales clerks of Teresa's Treasures are paid a salary of $225 per week plus a commission of 8% on…
A: The gross earnings are sum of salary and commission.
Q: Exercise 22-4 (Algo) Payroll expense allocated to departments LO P2 Mia works in both the jewelry…
A: Cost allocation is a concept used in cost accounting. There are two methods of cost allocation one…
Q: Waterway and Crede, CPAS, are preparing their service revenue (sales) budget for the coming year…
A: Service revenue budget is the statement prepared by the entity for the purpose of determining the…
Q: Direct Materials Beginning balance S5,000 Ending balance 16,000 Purchases 55,000 Direct materials…
A: The direct materials used is calculated as difference between total direct materials available for…
Q: CALCULATOR FULL SC 8. 6. 8. 10 3. $12 $34 $10 8. 8. 8. 8. 8. 14 37 25 9. 10 8. 8. 9. 15 58 25 s are…
A: Incentive basis payroll is better than the time or piece rate system of payroll as this affects the…
Q: Amount to Be Withheld No. of Marital Withholding Gross Wage Percentage Wage-Bracket Employee Status…
A: The percentage method:-This method is used to calculate federal income tax withholding. This method…
Q: Highridge Homes
A:
Step by step
Solved in 2 steps with 1 images
- A B с D E F G 1 An employee's raise is a function of the Annual Evaluation Score that they received. 2 An employee will receive a raise according to the Evaluation/Raise Matrix below, but ONLY if 3 they received a score of 3.0 or higher. Use a VLOOKUP function inside an IF statement to 4 calculate the 2019 Salary for each employee. Format the 2018 and 2019 Salary figures 5 with dollar signs and zero decimals. 6 7 8 567c 9 10 Doe, John 11 Garza, Esperanza 12 Hernandez, Joey 13 O'Connor, Liz 14 Smith, Sammy 15 16 17 18 Evaluation/Raise Matrix: Name 19 20 21 22 23 24 25 26 Annual 2018 Base Evaluation 2019 Base Salary Score Salary 34500 42000 39600 55000 48500 Evaluation Score 0246 CO 0.0 OOOOOO 2.0 4.0 6.0 8.0 10.0 617300 236980 Raise 6.2 1.3 7.6 3.9 8.8 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% HCurrent Year Current Year Prior Year Prior Year Amount Percent Amount Percent Revenues: Admissions $90,639 fill in the blank % $100,694 fill in the blank% Event-related revenue 136,900 fill in the blank % 146,980 fill in the blank% NASCAR broadcasting revenue 224,227 fill in the blank % 217,469 fill in the blank% Other operating revenue 60,390 fill in the blank % 31,320 fill in the blank% Total revenues $512,156 fill in the blank % $496,463 fill in the blank% Expenses and other: Direct expense of events $(102,786) fill in the blank $(104,303) fill in the blank NASCAR event management fees Other direct expenses (137,727) fill in the blank (133,682) fill in the blank (43,784) fill in the blank (19,541) fill in the blank General and administrative (166,663) fill in the blank (285,166) fill in the blank Total expenses and other Income from continuing operations $(450,960) fill in the blank $(542,692) fill in the blank $61,196 fill in the blank% $(46,229) fill in the blankExercise 14-07 National Express reports the following costs and expenses in June 2020 for its delivery service. Indirect materials Depreciation on delivery equipment Dispatcher's salary $7,100 Drivers' salaries 12,300 5,260 910 13,000 2,600 Period costs Advertising Delivery equipment repairs Office supplies Office utilities Repairs on office equipment $16,200 5,400 390 720 1,060 220 Property taxes on office building CEO's salary Gas and oil for delivery trucks Determine the total amount of (a) delivery service (product) costs and (b) period costs. Delivery service (product) costs
- Hi I hope you are health is goodKeating Co. is considering disposing of equipment with a cost of $74,000 and accumulated depreciation of $51,800. Keating Co. can sell the equipment through a broker for $33,000, less a 7% broker commission. Alternatively, Gunner Co. has offered to lease the equipment for five years for a total of $49,000. Keating will incur repair, insurance, and property tax expenses estimated at $12,000 over the five-year period. At lease-end, the equipment is expected to have no residual value. The net differential income from the lease alternative is Oa. $4,417 Ob. $7,572 Oc. $9,465 Od. $6,310 Previous Next 7:36 PM 12/13/2020 CP DELLCengageNOWv21Online teachin X ilm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator=assignment-take&inprogress-false Calculate Payroll K. Mello Company has three employees-a consultant, a computer programmer, and an administrator. The following payroll information is available for each employee: Administrator Computer Programmer Consultant $50 per hour $36 per hour $2,510 per week Regular earnings rate 1.5 times hourly rate 2 times hourly rate Not applicable Overtime earnings rate $500 $253 $930 Federal income tax withheld For hourly employees, overtime is paid for hours worked in excess of 40 hours per week. For the current pay period, the computer programmer worked 52 hours and the administrator worked 61 hours. Assume further that the social security tax rate was 6%, and the Medicare tax rate was 1.5 %. Determine the gross pay and the net pay for each of the three employees for the current pay period. Assume the normal working hours in a week are…
- Additional information: • Materials inventory (ending) - $2,800 • Work in process (ending) - $3,200 • Finished goods (ending) - $2,100 Based on the given adjusted trial balance of Cheviss Company (December 31, 2019) on the picture + additional information written above: prepare a cost of goods manufactured statement and an income statement.DATE OF PAY PERIOD ENDING 20- 20 PAYMENT NET СК. EARNINGS DEDUCTIONS EMPLOYEE MAR. TOTAL NAME ALLOW RATE SOC. SEC. FED. INC. STATE INC. HOSP. INS OTHERS TOTAL PAY NO. NUMBER STATUS HOURS REGULAR OVERTIME TOTAL MED. TAX TAX TAX TAX 10 2 3 6. 9. 10 11 10 12 11 13 14 13 15 14 16 17 15 18 16 17 18 25 12 7.eBook Chart of Accounts Payroll Register General Journal Instructions NO. OI Mallal TOLAI HOUIS TOlal Eamings Name Allowances Status Worked Feb. 9-15 Rate Jan. 1-Feb. 8 Barone, William 40 $14.00 $3,360.00 Hastings, Gene 4 M 45 15.00 3,870.00 Nitobe, Isako 3) 46 12.00 3,168.00 Smith, Judy M. 42 13.00 3,276.00 2. Tarshis, Dolores S. 39 14.50 3,480.00 Social Security tax is withheld from the first $128,400 of earnings at the rate of 6.2%, Medicare tax is withheld at the rate of 1.45%, and city earnings tax at the rate of 1%, both applied to gross pay. Hastings and Smith have $35 withheld and Nitobe and Tarshis have $15 withheld for health insurance. Nitobe and Tarshis have $25 withheld to be invested in the bakers' credit union. Hastings has $18.75 withheld and Smith has $43.75 withheld under a savings bond purchase plan. Karen's Cupcakes' payroll is met by drawing checks on its regular bank account. The checks were issued in sequence, beginning with No. 365. Required: 1. Prepare a…
- DIRECTIONS 1 Journalize the entry to RECORD the payroll 2 Journalize the entry to RECORD the employer's payroll taxes (SUTA rate is 3.7%) 3 Journalize the entry to deposit the FICA and FIT taxes TOTAL EARNINGS FICA OASDI FICA HI FIT W/H STATE TAX UNION DUES NET PAY $36,195.10 $2,244.10 $524.83 $6,515.00 $361.95 $500.00 $26,049.22 1 JOURNAL DATE DESCRIPTION DEBIT CREDIT 2 JOURNAL DATE DESCRIPTION DEBIT CREDIT…Waterway and Crede, CPAS, are preparing their service revenue (sales) budget for the coming year (2022). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Department Quarter 1 Auditing Tax Consulting 3,040 3,840 1,920 Quarter 2 2,000 2,720 1,920 Quarter 3 Quarter 4 2,560 2,560 1,920 3,120 3,200 1,920 Average hourly billing rates are auditing $70, tax $80, and consulting $100. Prepare the service revenue (sales) budget for 2022 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue.Hello, can you help me with this question? Amount to BeWithheld Employee FilingStatus No. of WithholdingAllowances Gross Wageor Salary PercentageMethod Wage-BracketMethod Lennon, A. MFJ N/A $675 weekly $fill in the blank 1 $fill in the blank 2 Starr, P. MFJ N/A 1,929 weekly fill in the blank 3 fill in the blank 4 McNeil, S. S N/A 1,775 biweekly fill in the blank 5 fill in the blank 6 Harrison, W. HH N/A 2,580 semimonthly fill in the blank 7 fill in the blank 8 Smythe, M. HH N/A 5,380 monthly fill in the blank 9 fill in the blank 10